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Economy

“A US debt default could spark mass unemployment, payment failures, and catastrophe that would raise interest rates ‘into perpetuity,’ Treasury Secretary Janet Yellen warns”

“…A government debt default would be catastrophic for the US economy, sparking mass unemployment, payment failures, and interest rates rising “into perpetuity,” according to US Treasury Secretary Janet Yellen. “Since 1789, the United States has paid all of our bills… Continue Reading…

Banking, Economy, Personal Finance

“Angry savers emailed Janet Yellen: We’re getting crushed by low rates”

“Rock-bottom interest rates have pumped up stock prices, knocked down mortgage rates and supported the creation of countless unicorns in Silicon Valley. Savers, on the other hand, have been crushed by near-zero rates.Some of those savers penalized by the Federal Reserve’s… Continue Reading…